[Federal Register Volume 67, Number 228 (Tuesday, November 26, 2002)]
[Notices]
[Pages 70756-70757]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 02-29938]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-4572-D-27]


Revocation and Redelegation of Authority to the Deputy Assistant 
Secretary for Finance and Budget

AGENCY: Office of the Assistant Secretary for Housing-Federal Housing 
Commissioner, HUD.

ACTION: Notice of revocation and redelegation of authority.

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SUMMARY: In this notice, the Assistant Secretary for Housing-Federal 
Housing Commissioner and the General Deputy Assistant Secretary for 
Housing-Deputy Federal Housing Commissioner advise the public that they 
have redelegated authority to the Deputy Assistant Secretary for 
Finance and Budget all responsibilities related to the sale of 
Secretary-held single family and multifamily mortgages.

EFFECTIVE DATE: August 20, 2002.

FOR FURTHER INFORMATION CONTACT: Sandy Allison, Associate Deputy 
Assistant Secretary for Finance and Budget, Office of Housing, 
Department of Housing and Urban Development, Room 9110, Washington, DC 
20410, phone (202) 708-2601. Persons with hearing or speech impairments 
may call HUD's TTY number at (202) 708-1455 or the Federal Information 
Relay Service's TTY number at (800) 877-8339. Other than the ``800'' 
number, the telephone numbers listed are not toll-free.

SUPPLEMENTARY INFORMATION: In the past, the Assistant Secretary for 
Housing has redelegated asset sale related authority to Office of 
Housing Deputy Assistant Secretaries in several offices. Prior to 
August 20, 2002, authority to sell single-family housing mortgages was 
redelegated to the Deputy Assistant Secretary for Single Family Housing 
programs, and authority to sell Secretary-held multifamily mortgages 
was redelegated to the Office of Housing-FHA Comptroller.

    Note: Authority to sell Secretary-held mortgages is 
distinguishable from authority to sell HUD-owned properties and does 
not include authority to execute mortgage workouts.

    Recently, the Office of Finance and Budget (FAB) was established 
within the Office of Housing, and the Office of the Housing-FHA 
Comptroller was made a component office under FAB. FAB is charged with 
overseeing and administering all financial and budget programs for the 
Office of Housing. Accordingly, on August 20, 2002 the Assistant 
Secretary for Housing-Federal Housing Commissioner determined that 
responsibilities related to sales of Secretary-held mortgages 
appropriately belong within FAB and signed this redelegation to permit 
FAB to carry out this responsibility. All prior redelegations, to other 
offices, were revoked.
    Accordingly, the Assistant Secretary for Housing-Federal Housing 
Commissioner and the General Deputy Assistant Secretary for Housing-
Deputy Federal Housing Commissioner redelegate and revoke authority as 
follows:
    Section A.: Authority Redelegated: The Deputy Assistant Secretary 
for the Office of Finance and Budget is redelegated all authority 
necessary to sell Secretary-held mortgages. This authority includes, 
but is not limited to, determining the terms of and process for 
conducting any sale; executing all agreements necessary, on behalf of 
the Secretary, pursuant to which mortgages may be sold; and taking any 
actions necessary to consummate mortgage sales.
    Section B.: Authority to Further Delegate: The Deputy Assistant 
Secretary for Finance and Budget may further redelegate the authority

[[Page 70757]]

redelegated in Section A. Any redelegation must be in writing, and a 
copy of the redelegation will be submitted to the Assistant Secretary 
for Housing-Federal Housing Commissioner.
    Section C.: Limitation: The authority redelegated in Section A. 
does not include authority to waive regulations.
    Section D.: Authority Revoked: All prior redelegations from the 
Assistant Secretary for Housing-Federal Housing Commissioner to sell 
Secretary-held mortgages, including the redelegations to sell 
Secretary-held mortgages at 47 FR 30653, July 14, 1982 (single family 
mortgages), and 62 FR 766, January 6, 1997 (multifamily mortgages), are 
hereby revoked.

    Authority: Sec. 7(d) of the Department of Housing and Urban 
Development Act (42 U.S.C. 3535(d)).

    Dated: August 20, 2002.
John C. Weicher,
Assistant Secretary for Housing-Federal Housing Commissioner.
[FR Doc. 02-29938 Filed 11-25-02; 8:45 am]
BILLING CODE 4210-27-P